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They said in a note Tuesday that the “army of loyal social media followers” has helped the company disrupt the U.S. sports drink industry.
“Our analysis, product life cycle comparison, and store checks support our view the brand will reach >10% run-rate mkt share in sports drinks by Dec. and 15% annualized by ’27,” the analysts wrote.
“Led by Congo Brands and social media influencers Logan Paul/KSI, and positioned as a health & wellness offering, Prime Hydration has quickly become a majorly disruptive brand in the U.S. beverages industry.”
The analysts note that while there remains a wide range of trajectories for Prime’s growth given its blistering start, they believe it is very plausible the brand approaches $800M in U.S. retail sales in 2023 as distribution ramps.”
